SOURCE: Neste Oil Oyj

January 30, 2006 07:27 ET

SHAREHOLDERS' NOMINATION COMMITTEE TO PROPOSE RE-ELECTION OF NESTE OIL'S BOARD OF DIRECTORS

Stock Exchange Release 30 January 2006 at 2:00 pm EET

ESPOO, FINLAND -- (MARKET WIRE) -- January 30, 2006 --

The Shareholders' Nomination Committee of Neste Oil Corporation will propose to the Annual General Meeting to be held on 22 March 2006 that the company's current Board of Directors should be re-elected for a further term of office, and that the current Chairman and Vice Chairman should continue in their current positions. All those concerned have given their consent to continuing. The proposed composition of the Board is as follows:

Mr Timo Peltola, Chairman of the Board
Mr Mikael von Frenckell, Vice Chairman of the Board
Ms Ainomaija Haarla
Mr Kari Jordan
Mr Juha Laaksonen
Ms Nina Linander
Mr Pekka Timonen
Ms Maarit Toivanen-Koivisto
All the nominees are considered independent, with the exception of Juha Laaksonen, who is employed by the former parent company, Fortum Corporation, and Pekka Timonen, who represents the majority owner, the Finnish State.

Personal details on the nominees can be found at www.nesteoil.com.

The Shareholders' Nomination Committee will also propose that the remuneration paid to the Board of Directors should remain unchanged from 2005, as follows:

Chairman EUR 55,000/year
Vice Chairman EUR 42,000/year
Member EUR 30,000/year
Meeting fee *)  EUR 500/meeting
*) Applies also to committee meetings
Shareholders' Nomination Committee was appointed in December and comprised following persons: Mr Markku Tapio, Director General, Ministry of Trade and Industry; Mr Kari Puro, President and CEO, Ilmarinen Mutual Pension Insurance Company, and Mr Jorma Huuhtanen, Director General, Social Insurance Institution. The Chairman of Neste Oil's Board of Directors, Mr Timo Peltola served as the Committee's expert member.
Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications

Neste Oil Corporation is a leading independent Northern European oil refining and marketing company, with a focus on advanced, clean traffic fuels. Neste Oil's refineries are located in Porvoo and Naantali, Finland, and have a total refining capacity of approx. 250,000 bbl/d. The company employs around 4,500 people. Neste Oil is listed on the Helsinki Stock Exchange (symbol: NES1V). For further information, see www.nesteoil.com.



Copyright © Hugin ASA 2006. All rights reserved.

Contact Information